Mid Market Comment by Mr Shrey Jain Founder and CEO SAS Online - India`s Deep Discount Broker
Below the Quote on Mid Market Comment by Mr Shrey Jain, Founder and CEO SAS Online - India's Deep Discount Broker
Due to positive global market signals and significant Foreign Institutional Investor (FII) activity yesterday, the Indian benchmark index is anticipated to trend upward today. Expect a positive bias persisting throughout the day, with 24,500 levels acting as crucial resistance. Potential dips towards 24,300 levels may offer buying opportunities, targeting 24,450. In Nifty, the 24,500 Call strike has a notable Open Interest (OI) of around 8.5 million shares, while the 24,000 Put strike holds OI exceeding 10 million shares.
There may be some profit booking ahead of Nifty's weekly expiry. However, with the markets poised to reach new highs, the advised strategy continues to be "Buy on dips" in the current market conditions.
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